SINGAPORE - Media OutReach - 5 January 2022 - Marco Polo Marine Ltd. (SGX:5LY) a reputable regional integrated marine logistics company announced that its subsidiary, P.T. Marcopolo Shipyard, has ventured into green ship recycling, to help shipowners recycle their end-of-life ships in a safe and environmentally sound manner.

In addition to being awarded the permit by local authorities to conduct ship recycling activities, the Group has also become the first shipyard in Indonesia to be certified and awarded the ISO 30000:2009 certificate. The ISO 30000 certification is recognised globally and often a prerequisite by shipowners as the shipping industry look to comply with the new European Union (EU) Regulation on Ship Recycling and the International Maritime Organization (IMO) Hong Kong Convention.

Mr Sean Lee, Chief Executive Officer of Marco Polo Marine, commented: "Given the growing interest in sustainability by the shipping industry, we are excited to expand our shipyard services to include green ship recycling. With the ISO certification by ABS  QE, ship-owners can be assured that their vessels are recycled in safe and environmentally sound facilities."

"I would like to congratulate Marco Polo for this achievement. ABS and Marco Polo Marine have worked together since 2009, supporting new construction projects, Classing of existing fleet, certifying Ship Management Systems for drydocking and approval in principle (AIP) to validate new technologies. Additionally, we have partnered on joint development programs on the design of new sustainable vessels." said Pier Carazzai ABS Vice President South Pacific Region – Business Development.

"The ISO 30000 certification is a significant milestone on Marco Polo Marine's journey to sustainable shipping. We are honoured to have supported this process." Added Dominic Townsend, President, ABS Quality Evaluations.

The maritime industry has come under mounting pressure from various stakeholders to ensure vessels are recycled in a safe and responsible manner. To promote transparency across the shipping value chain and accelerate a voluntary market-driven approach to responsible ship recycling practices, the Ship Recycling Transparency Initiative (SRTI) ^[1] was also launched in 2018. Since its launch, the SRTI has received over 20 signatories^[2] including major shipowners such as MAERSK, NYK and Crowley, signalling the shipping industry's strong intent and efforts to pursue on its sustainability and green recycling efforts.